Bilateral trade turnover between Vietnam and China’s Guangxi province is likely to reach US$1.3 billion this year, up 32.92 per cent on-year, estimated the provincial leader.
Secretary of the Party Committee of the Guangxi Zhuang Autonomous Region, Cao Bochun made the forecast during his talks with Vietnamese and Chinese reporters on the sidelines of an exhibition of Guangxi's products opened in Hanoi on April 15.
The province and Vietnamese localities have enjoyed time-honored cooperative relations and their economic and trade ties have seen rapid development in recent years, he commented.
Last year, trade turnover between Guangxi and Vietnamese localities posted at US$978 million, up 20 per cent over 2004, accounting for 12 per cent of China-Vietnam two-way trade value, added Cao Bochun.
Sharing similarities in geography and customs, and in the context of increasingly economic China-Vietnam relations, Guangxi province’s businesses have to date invested in 49 projects in Vietnam with a total registered capital of over US$330 million.
The Chinese delegation led by Cao Bochun who paid five-day visit to Hanoi from April 13, was accompanied by 166 Guangxi enterprises and over 20 Chinese small and medium-sized enterprises which are seeking new investment opportunities in Vietnam.
To further enhance economic and trade ties between Vietnam and the province, Cao Bochun noted that the traffic system development between the two sides would be one of their priorities.
He also added that the two sides could encourage enterprises to cooperate in energy, industry and agriculture sectors and jointly exploit natural resources in the Tonkin Gulf.
In a related development, up to 41 projects capitalized at US$181.17 million have been signed within the framework of a workshop on trade and investment cooperation between Vietnam and Guangxi province.
The workshop, held on April 15 by the Vietnam Chamber of Commerce and Industry (VCCI) in coordination with authorized agencies of the Guangxi Zhuang Autonomous Region, aimed to introduce policies, opportunities and fields for investment and trade cooperation between Guangxi and northern provinces of Vietnam.
Last year, Vietnam-China trade revenue totaled US$8.3 billion, up 21.5 per cent over 2004. The two countries have targeted to raise the two-way trade value to US$10 billion in 2010.
Vietnamese
